JUDGMENT

Siddharth Mridul, J. (Oral)--The present is an application under Section 438 Cr.P.C 1973 seeking pre-arrest bail in FIR No. 494/2015, under Section 420 IPC, registered at Police Station-Karol Bagh.

2. Mr. Amit Sibal, learned counsel appearing on behalf of Mr. Pradeep Paliwal, the applicant herein and Mr. Ashok Bhasin, learned senior counsel appearing on behalf of the complainant Mr. R.S. Chabbra state that with the assistance and advice of counsel the parties have arrived at an amicable resolution of the dispute that led to the registration of the subject FIR. The terms and conditions of the aforesaid settlement are encapsulated in the Memorandum of Understanding dated 23rd December, 2015 which is duly signed by the parties, who are present in court today and have been duly identified by their respective counsel. The said Memorandum of Understanding has been handed over in court today. The same is taken on record. The terms and conditions of the afore-stated Memorandum of Understanding are as follows:

"1. That second party undertakes to execute a registered sale deed of Shop No. 3 at freehold property bearing no. 10466, 10463, Plot No.42, Block 15-A, Western Extension Area, Ahmal Khan Road, Karol Bagh, New Delhi comprising of Basement, Ground floor, Fist Floor, Second Floor, Third Floor and Roof in favour of First Party within two months of signing of present agreement. The said property belongs to MVM Developers Pvt Ltd. Second Party will obtain a Board Resolution from MVM Developers Pvt. Ltd for execution of sale deed in favour of First Party at his responsibility within two months from date of signing of present agreement. It is further agreed that in case the Second party fails to get the Sale Deed executed the present MOU will become null and void.

2. That in addition to what is stated above the Second party further undertakes to give Rs. Seven Crores Thirty five lakhs to the first party at the time of registration of sale deed as stated in para 1.

3. That simultaneously upon registration of the sale deed as mentioned in para 1 the First Party will sign No objection affidavit and undertaking for quashing of FIR No. 494 of 2015. The Second Party shall file a petition under section 482 Crpc for quashing of FIR No.494/2015 before the Hon'ble High Court and the First Party undertakes to sign No objection affidavit and make necessary statements before Hon'ble High Court for the quashing of the said FIR. In case First party fails to appear before Hon'ble High Court for making statements for the quashing of the said FIR the present MOU will become a deemed NOC/No objection for quashing of Said FIR which the Hon'ble Court may quash without the presence of the First Party.

4. That the Second Party also undertakes not to raise any objection/dispute regarding the absolute and sole ownership and possession of the said property described in point no.1, in favour of the First Party after executing the sale deed subject to First party giving No objection for quashing of FIR 494/2015.

5. The first party undertakes to hand over the vacant peaceful physical possession of the remaining portion of the property bearing 10463 and 10466, Plot no. 42 and 43, block no. 15A, Western Extension Area, Ajmal Khan Road, Karol Bagh, New Delhi to their respective owners i.e. Holystar Natural Resources Pvt Ltd and MVM Developers Pvt Ltd respectively at the time of registration of sale deed as stated in para 1. First party further undertakes not to claim any right, title or interest in the said properties belonging to Holystar Natural Resources Pvt Ltd and MVM Developers Pvt Ltd.

6. That the First Party undertakes to withdraw Civil Suit No. 161/14 before four days of the registration of the sale deed as mentioned in para no 1 of the present MOU. In case the Second party fails to execute the Sale deed as mentioned in para 1 the said suit will be restored.

7. That in the event that the second party fails to fulfil any of the aforesaid terms, the p